PPG Industries (NYSE:PPG) Stock Rating Upgraded by Berenberg Bank

PPG Industries (NYSE:PPG) was upgraded by investment analysts at Berenberg Bank from a “hold” rating to a “buy” rating in a report issued on Thursday, Briefing.com reports. The brokerage currently has a $165.00 price target on the specialty chemicals company’s stock. Berenberg Bank’s target price points to a potential upside of 8.55% from the company’s current price.

A number of other equities analysts have also recently commented on PPG. Morgan Stanley lifted their target price on shares of PPG Industries from $140.00 to $147.00 and gave the stock an “equal weight” rating in a research report on Monday, December 14th. Laurentian upgraded shares of PPG Industries to a “buy” rating in a research report on Wednesday, December 16th. Royal Bank of Canada lifted their target price on shares of PPG Industries from $141.00 to $144.00 and gave the stock an “outperform” rating in a research report on Friday, October 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of PPG Industries from $155.00 to $165.00 in a research report on Tuesday, December 1st. Finally, Barclays lifted their target price on shares of PPG Industries from $151.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Tuesday, December 1st. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $137.42.

PPG Industries stock opened at $152.01 on Thursday. The firm’s fifty day moving average price is $145.68 and its 200-day moving average price is $128.93. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.03 and a current ratio of 1.35. The stock has a market cap of $35.91 billion, a P/E ratio of 33.56, a price-to-earnings-growth ratio of 4.01 and a beta of 1.22. PPG Industries has a fifty-two week low of $69.77 and a fifty-two week high of $153.06.

PPG Industries (NYSE:PPG) last posted its quarterly earnings data on Monday, October 19th. The specialty chemicals company reported $1.93 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.92 by $0.01. The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $3.60 billion. PPG Industries had a net margin of 7.85% and a return on equity of 25.46%. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company posted $1.67 EPS. On average, analysts predict that PPG Industries will post 5.54 earnings per share for the current year.

In related news, CEO Michael H. Mcgarry sold 81,022 shares of the business’s stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $133.65, for a total transaction of $10,828,590.30. Following the sale, the chief executive officer now owns 173,940 shares of the company’s stock, valued at $23,247,081. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP William E. Schaupp sold 3,850 shares of the business’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $134.66, for a total transaction of $518,441.00. Following the sale, the vice president now directly owns 4,333 shares in the company, valued at approximately $583,481.78. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Paces Ferry Wealth Advisors LLC bought a new stake in PPG Industries during the third quarter worth about $31,000. Glassman Wealth Services raised its holdings in PPG Industries by 163.4% in the third quarter. Glassman Wealth Services now owns 266 shares of the specialty chemicals company’s stock worth $32,000 after buying an additional 165 shares during the last quarter. ELM Advisors LLC purchased a new position in PPG Industries in the fourth quarter worth about $32,000. Benjamin Edwards Inc. raised its holdings in PPG Industries by 616.4% in the third quarter. Benjamin Edwards Inc. now owns 394 shares of the specialty chemicals company’s stock worth $48,000 after buying an additional 339 shares during the last quarter. Finally, Dimension Capital Management LLC purchased a new position in PPG Industries in the third quarter worth about $52,000. 77.11% of the stock is currently owned by institutional investors and hedge funds.

PPG Industries Company Profile

PPG Industries, Inc manufactures and distributes paints, coatings, and specialty materials worldwide. The company's Performance Coatings segment offers coatings, solvents, adhesives, sundries, and software for automotive and commercial transport/fleet repair and refurbishing, light industrial coatings, and specialty coatings for signs; and coatings, sealants, transparencies, transparent armor, adhesives, and packaging and chemical management services for commercial, military, regional jet, and general aviation aircraft.

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Analyst Recommendations for PPG Industries (NYSE:PPG)

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